Ann: ARL SMM and MC to form a JV to develop KNP Goongarrie Hub, page-80

Sorry boys for being overly active

What's written, it's mostly clear except remaining 15% for JC for optimising debt. How that looks like ? That's still unanswered.

Finding the best debt sources for the project for 15%. We know that for 100 mil they get 35% of the project. Is the rest 15% propotional value for debt optimisation or handled separately ? If dealt separately, what value can debt optimisation provide for 15% ? Is it just cheap, easily accessible loan or JC could provide high loan share with minimal own equity ?

I would still say we only got announcement that JV has been formed and on what conditions JC earn up to 50%. That's why market is really volatile. We went under 80c a share and after hours ripped back to 85c with no buying pretty much. In general buy side is dried up, only 9 peers buying 40k. But I also understand that a lot of questions can't be answered, because these we will find out once DFS is completed.